- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
by Tom Moeller July 22, 2016
The decline in the overall U.S. unemployment rate has stabilized this year, averaging 4.9% versus 5.3% during 2015. It still was half its late-2009 peak, and great variation amongst individual states continued.
In today's state labor market report for June, unemployment in Alaska continued to top the chart at 6.7% versus 6.9% during all of last year. Unemployment in a few larger states, however, also was high. Illinois was high with a 6.2% unemployment rate, and a 6.4% average this year. That was higher than the 5.8% low during Q3'15. The 6.2% unemployment rate in Alabama also was elevated compared to other states, but has been stable since early last year. Moving northward, Pennsylvania's 5.6% jobless rate was elevated versus the 4.7% low averaged in Q4'15. Unemployment in California also remained high relative to the overall average, but its decline over to 5.4% from 6.4% one year ago has been steady.
Comparatively high unemployment rates also were logged in other large states, notably Georgia. Its 5.1% unemployment rate is down from roughly 6.0% early last year. New Jersey, however, has seen a different pattern develop. It's 5.1% jobless rate in June was low compared to other large states, but it has risen from 4.4% averaged in Q1'16. Ohio has seen a similar pattern develop as its 5.0% jobless rate was up versus 4.6% averaged in Q3'15.
At the low end of the scale, Iowa realized a 4.0% rate of unemployment, but that was up versus 3.6% averaged during all of last year. Continuing to decline, however, was unemployment in Virginia. It's 3.7% unemployment rate was down from 4.8% early last year. Colorado also recently realized a slight uptick in unemployment to 3.7% from a 3.0% low, but the decline in joblessness to 2.8% in New Hampshire has been fairly steady. Unemployment's decline to 2.7% in South Dakota also has been fairly steady.
In several large cities, unemployment hovers above the state average. That was true in Detroit where 5.1% unemployment was higher than 4.6% averaged in Michigan. Similarly, in New York City, its jobless rate of 5.0% was above the state's average of 4.7%. Miami's unemployment rate of 5.3% also was above the state's average of 4.7%. Working the other, however, was Washington state where the unemployment rate of 5.8% was above the Seattle metro area's of 4.6%.
State unemployment figures are available in Haver's EMPLR database.
Total U.S. Unemployment Rate
Ten States With Highest Jobless Rate
|Ten States With Lowest Jobless Rate|
|Jobless Rate In Other Selected Large States|